Cape Town-based Silicon Cape has a new membership model that it hopes will create more inclusiveness in the local venture capital ecosystem.
Silicon Cape is a non-profit digital initiative that connects tech entrepreneurs, developers and creatives with angel investors and venture capitalists.
According to the organisation, the main aim of its "Africa-first 2021 Strategic Plan" is to introduce a new membership model that will see members being offered different paid-for plans that provide local and global innovation stakeholders curated access to the ecosystem, resources and marketing opportunities on the Silicon Cape platform. Plans are said to start at R500.
It also plans to move away from a business model that saw it rely solely on a single source of corporate or government donor funding.
Kerry Petrie, general manager of Silicon Cape, explains: "What we have seen is that our ecosystem's strength comes from our connections between the various stakeholders. Our community works hard to keep talking to each other, supporting each other and trying to leverage collective resources where possible.
"This speaks to Silicon Cape's success historically, but also, critically, informs our new membership model.
"The model is how we plan to grow and strengthen those connections to maintain the dynamism of the ecosystem. There is also a strong focus on building the networks for student entrepreneurship to capitalise on and accelerate the rising number of student ventures."
She adds the new membership model secures its financial and operational sustainability indefinitely. "By moving towards a community membership model, we are able to remain completely independent and community-owned. What we mean by this is that our strategy and vision is not driven by any one particular interest group, which allows us to represent the interests of all of our members and clusters."
The Endeavour Report released last week identified Cape Town as Africa's tech capital, stating it is the most productive technology sector in Africa, employing up to 50 000 people.
Silicon Cape has played an instrumental role in spearheading tech start-ups in the Cape region, most recently having sealed a collaboration agreement with German-based digital cluster Hamburg@work, where commercial relationships will be fostered between the two organisations.
Dr Sumarie Roodt, Silicon Cape chairperson, adds that the initiative is working hard at facilitating an initiative that will help minority group-led start-ups to become an active part of the tech sector in the region.
"Inclusiveness of minorities is another priority of our new strategy as there is so much more that needs to be done to be truly representative as an ecosystem. Numerous targeted initiatives are in the process of being rolled out specifically focused on integrating underrepresented groups."
Alan Winde, Western Cape minister of economic opportunities, said this development was most welcome in the region. "It is great to see the energy in what is developing here in this ecosystem in the southern tip of Africa, the kind of entrepreneurs that are using this space to not only develop solutions and innovations for our region in Africa but using this region to develop innovations and solutions for the world."
Share